August is Marked by Significant Volatility in the Cryptocurrency Market
However, traders are preparing for September with high hopes. With the long-anticipated drop in interest rates in the USA, cryptocurrencies could make a significant impact. In the meantime, discover this selection of 10 tokens likely to stand out during this ninth month of the year.
Tron (TRX): The Memecoin Mania Continues
The Tron network has entered the memecoin race this August with the SunPump platform. And itâs safe to say that the project is already seeing considerable success. According to Dune data, SunPump has already recorded over 55,000 tokens created and $3.4 million in revenue.
This enthusiasm is also reflected in Tronâs network performance. The blockchain recently hit a new daily revenue peak of $3.84 million. SunPump and Tron could continue to make headlines in September.
Moreover, Justin Sun promises more developments soon, having confirmed a 50% reduction in gas fees for trading on SunPump. Despite multiple market downturns, $TRX remains up 20% over the last 30 days, according to CoinMarketCap.
Solana ($SOL): Pumpfun Surpasses $100 Million in Revenue
$SOL is among the best-performing cryptocurrencies of 2024. Over the past year, the token has climbed 613%, according to CoinMarketCap data. SOLâs rise is attributed to the growing adoption of its network, particularly earlier this year with the surge of memecoins.
As networks like Tron join the race, Solana is losing ground. However, PumpFun, its memecoin generator, has just surpassed $100 million in total revenue.
With user activity on the network and other factors like falling interest rates, $SOL could perform well in September. Notably, this month looks exciting for the Solana community, with the Solana BreakPoint event scheduled for September 20-21.
XRP ($XRP): A "Big Move" Expected
XRP ($XRP) has captured the attention of cryptocurrency observers after several important developments. First, the project received a favorable verdict in its lawsuit against the SEC.
Additionally, Japanâs announcement regarding the national adoption of XRP has rekindled interest in the token. All these factors put the cryptocurrency in a positive momentum heading into September. Upcoming events this month could also boost the token.
Analyst JD anticipates a "big move" for XRP soon. Based on Bollinger Bands analysis of the XRP chart, he predicts a rise between 10x and 650x over the next year!
Crypto All-Stars ($STARS): $889,000 Raised in Two Weeks of Presale
Crypto All-Stars ($STARS) is a cryptocurrency launched in presale in August 2024. It has already attracted investor attention, raising $889,000 in this ICO. $STARS could see a strong influx in September as its project begins to convince traders.
In fact, Crypto All-Stars brings innovation to the cryptocurrency sector with MemeVault, a multi-token, multi-chain staking protocol. It is still under development and should host 11 prominent memecoins after its launch.
Toncoin ($TON): Whales Take Advantage of the Dip to Buy
Toncoin ($TON) is currently facing several challenges. The crypto notably dropped over 20% on August 25 after the arrest of Pavel Durov, CEO of Telegram. Simultaneously, the network has experienced disruptions in recent days due to a traffic spike.
Nevertheless, whales remain optimistic about $TON. Recently, Lookonchain reported that trader Shan spent $200,000 to buy $30,282 worth of $TON. September could allow Toncoin to start recovering and cover its recent losses.
Reserve Rights ($RSR)
Reserve Rights ($RSR) is the native and governance cryptocurrency of the Reserve Protocol. Launched in 2019, the project aims to provide a decentralized stablecoin that can withstand inflation. The development of the program and its adoption continue to boost $RSR.
Over the last 30 days, $RSR has seen an 18% increase. The crypto could maintain its momentum in September.
Pepe Unchained ($PEPU): $11.3 Million Raised So Far
Pepe Unchained ($PEPU) has recorded significant funding in August. At the time of writing, the project is raising $11.3 million in its ICO. With this resounding success, $PEPU could debut in the market very soon. The growing interest from investors should further boost it in September.
Moreover, the launch of its layer 2 solution is highly anticipated. This Ethereum-based layer 2 solution is expected to offer faster transactions and lower gas fees, positioning $PEPU among the promising new memecoins in September. While no official announcement has been made, itâs likely that PEPU will be listed this week.
Artificial Superintelligence ($FET): A Leading AI Crypto in 2024
Artificial Superintelligence ($FET) is a new player in the AI cryptocurrency subsector. The project emerged from the merger of Fetch.ai, SingularityNet, and Ocean Protocol. $FET has recently attracted attention after a 70% increase ahead of Nvidiaâs earnings report.
As noted by Dan Ives, an analyst at Wedbush Securities, "everything is set for tech stocks like Nvidia to progress," which should serve as a catalyst for the crypto. $FET could benefit from its development and such factors to stand out in September.
Tether Gold (xAUt): The Gold-Backed Stablecoin
Tether Gold (xAUt) is a stablecoin issued by Tether. It is backed by gold on a 1:1 basis, allowing it to benefit from the precious metal's performance. On August 20, the spot price of gold reached a historic high of $2,538.30.
This breakthrough also enabled Tether Gold to hit a new all-time high at the same price. Over the last 30 days, xAUt has increased by 5.12%, according to CoinMarketCap. With gold performing well in 2024, Tether Gold could continue its momentum in September while offering stability to portfolios.
Open Campus ($EDU): A Fairer Educational System on Web3
Open Campus ($EDU ) is an ambitious crypto project aiming to create a fairer educational system on Web 3. Recently, developers announced the launch of EDU Chain on Arbitrum. This platform is expected to bring together teachers and students for a decentralized learning experience.
$EDU is at the heart of all these projects and serves to incentivize various stakeholders in the Open Campus system. The crypto could continue to capitalize on the projectâs development in September.
Disclaimer: This article does not contain investment advice. It is intended solely to inform you about the market state. Investing carries significant risks, especially in cryptocurrencies.
#TON #DOGSONBINANCE #CryptoMarketMoves #BNBChainMemecoins #BinanceBlockchainWeek
